Allianz has been given the green light for its listing on the New York Stock Exchange (NYSE), the world's largest exchange by trading volume. Allianz shares were registered with the United States Securities and Exchange Commission (SEC) effective Tuesday, Oct. 31, 2000. The stock of Allianz AG will be represented on the New York Stock Exchange for the first time on Friday, November 3, 2000 and will be traded in the form of American Depositary Shares (ADSs). Allianz's NYSE ticker symbol will be "AZ". The shares of the company will then be offered at the five leading international stock exchanges: Frankfurt, London, Paris, Zurich and New York.

Dr. Henning Schulte-Noelle, Chairman of the Board of Management of Allianz AG, said: "This listing is another important step for Allianz towards becoming an even more global company. We reached our goal to achieve a listing in the U.S. by the end of 2001 earlier than expected. This was only possible as a result of the strong commitment of all Group companies and employees involved in this project."

Transparency and International Comparability

The listing expands the flexibility of the Allianz Group for financing future acquisitions. It also allows the company to strengthen its market position with new investors and strategic partnerships. Allianz has carefully prepared for the challenges of the U.S. capital markets. Transparency and international comparability play an important role at the company. For the past three years, Allianz's financial statements have been prepared according to International Accounting Standards (IAS). Valuation reserves were published for the first time in 1997. This was followed by the publication of details relating to shareholdings and positions in the trading portfolio - significantly beyond the statutory requirements.

Allianz Foundation for North America

Allianz takes its responsibilities towards all stakeholders seriously. These include employees, customers, shareholders and society at large. To demonstrate its commitment to the U.S. in this respect, Allianz is also announcing the creation of "The Allianz Foundation for North America" in conjunction with its NYSE listing. The foundation will focus on creating opportunities and global perspectives for young people throughout the U.S., Canada and Mexico. It will support and partner with existing programs and also establish new ones. The foundation will not only draw on the Allianz Group's financial resources, but also on its global networks and perspective. Initially, it will be capitalized with 10 million dollars.

Allianz - A Leading International Insurance Group

In the last decade, the Allianz Group has become one of the largest international insurance groups. It holds the number one position worldwide based on gross premiums written and is number two in terms of market capitalization. Allianz has a presence in over 70 countries with a workforce of 117,000 employees and offers its approximately 60 million customers a complete range of services in the areas of protection, provision and portfolio management. International rating agencies give Allianz top ratings. Both Standard & Poor's and A.M. Best recently confirmed their highest possible ratings for Allianz.

The primary objective of the Allianz Group is to generate sustained growth in the value of the company by increasing profitability in its core areas of business. These core business areas are property-casualty insurance, life and health insurance and asset management. Allianz aims to reach a top five position in the major markets of the world. In around 20 countries - among them Germany, France, Italy, Spain and Korea - the company has already accomplished this goal.

In Europe, Allianz is particularly well established to participate in the growth market for private old-age pension provision. In addition, tax reforms in Germany are also opening up significant opportunities. "We intend to continue the process of redirecting excess capital into our core business segments", explained Schulte-Noelle.

After Germany and France the United States is the third-largest insurance market for Allianz, accounting for 6.43 billion euros, or 11.6% of the total gross premiums written in 1999. In the U.S., Allianz employs approximately 11,000 people and is represented in life insurance through Allianz Life and in property-casualty insurance through Fireman's Fund and Allianz Insurance Company.

Allianz - A Leading International Asset Manager

Since 1998, Allianz has consistently grown asset management into its third core business. After the completion of the acquisition of the U.S. asset manager Nicholas-Applegate, the Allianz Group will manage assets amounting to approximately 750 billion euros, making the Group one of the leading global asset managers.

Allianz's asset management activities in the U.S. include PIMCO, Oppenheimer Capital and Cadence Capital. The acquisition of Nicholas-Applegate was announced this October.